Inflation in Philippines
Philippines - Inflation
Inflation drops to lowest level since July in October
Consumer prices rose a seasonally-adjusted 0.15% from the previous month in October, accelerating from the 0.08% increase logged in September. The higher print was in part due to a weaker decline in food and non-alcoholic beverage prices, as well as a steeper increase in housing, water, electricity, gas, and other fuels prices.
Inflation edged down to 4.6% in October, which followed September’s 4.8%. October's result represented the lowest inflation rate since July. Meanwhile, the trend pointed up mildly, with annual average inflation coming in at 4.3% in October (September: 4.1%). Lastly, core inflation rose to 3.4% in October, from September’s 3.3%.
FocusEconomics Consensus Forecast panelists expect inflation to average 3.2% in 2022, which is up 0.2 percentage points from last month’s forecast, and to average 3.1% in 2023.
Philippines - Inflation Data
|Inflation Rate (CPI, annual variation in %)||0.7||1.3||2.9||5.2||2.5|
5 years of economic forecasts for more than 30 economic indicators.
Philippines Inflation Chart
Source: National Statistics Office.
|Bond Yield||4.44||-4.11 %||Dec 27|
|Exchange Rate||50.66||0.02 %||Jan 01|
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November 17, 2021
At its monetary policy meeting on 17 November, the Central Bank of the Philippines maintained the overnight reverse repurchase facility rate at its record low of 2.00%, marking the eighth successive hold and matching market analysts’ expectations.
November 9, 2021
According to a preliminary reading, GDP growth lost momentum in the third quarter, falling to 7.1% year-on-year from 12.0% in the second quarter, as surging Covid-19 infection rates prompted the introduction of restrictions.
November 5, 2021
Merchandise exports rose 6.3% on an annual basis in September, on the heels of August’s 18.9% upturn.
November 5, 2021
Consumer prices rose a seasonally-adjusted 0.15% from the previous month in October, accelerating from the 0.08% increase logged in September.
November 2, 2021
The IHS Markit Manufacturing Purchasing Managers' Index (PMI) rose to 51.0 in October from September's 50.9.